Direct marketer says mortgage industry can use prospect of Senate bill to their advantage

Joy Gendusa, CEO of PostcardMania, says now is the best time for the mortgage and banking industry to use direct mail as well as other forms of advertising to start making themselves more known.  New York Times’s article on June 25^th reported Congress is poised to approve a huge package of housing legislation, including a refinancing program aimed at rescuing hundreds of thousands of homeowners in danger of foreclosure. 

With hope of solutions being offered in legislation, people will start to become less apathetic and look for solutions themselves, said Gendusa.  She went on to add that [mortgage companies] promoting now will start to get the attention of these ‘solution-seekers’. 

The central piece of the Senate package is a rescue-refinancing plan aimed at halting the more than 8,000 new foreclosures a day that are being filed across the country.  The plan would allow distressed borrowers and their lenders to blunt losses by allowing qualified owners to refinance into more affordable, 30-year fixed-rate loans with a federal guarantee.  The legislation would also provide benefits for first-time buyers, who would receive a refundable tax credit of up to $8,000, or 10 percent of the value of a home, on purchases of unoccupied housing.

As part of a regulatory overhaul of Fannie Mae and Freddie Mac, the mortgage finance giants, the bill would permanently increase to $625,000 from $417,000, the limit on loans they can purchase from lenders in expensive housing markets, making it easier for borrowers to obtain mortgages at discounted rates.

PostcardMania is currently present at the FAMB Show (Florida Association of Mortgage Broker’s Show), July 16-19^th in Orlando, helping mortgage brokers reverse their own fate while the Senate decides on the fate of American homeowners.

About PostcardMania:

 Using a powerful, simple, extremely cost effective way of communicating with customers has earned Joy Gendusa Inc Magazine’s recognition as the nation’s fastest growing direct mail postcard-marketing firm with year 2007 revenues at nearly $19,000,000.  Gendusa began in 1998 with zero investment capital.  Today, her Clearwater, FL firm called PostcardMania, employs over 160 people and prints 4 million and mails 2 million postcards representing more than 28,000 customers in over 350 industries each week. Visit www.postcardmania.com